SPOKANE, Wash. -

Demolition is underway at the old Macy's building in downtown Spokane.

It was bought by Centennial properties and we're getting our first look at what the building will look like.

Based off these new renderings, you can expect a much sleeker looking building when this is all over.

The exterior of the building will be comprised of mostly glass and metal panels.

The new Macy's building will consist of both retail and residential units. Centennial Properties says the first two floors will be used for new retailers.

They hope the new look will attract some big name businesses to the area.

Meanwhile, floors five through nine will include 15 apartment units per floor.

The third and fourth floors are being used as flex space, meaning it can be used for either more apartments or for business space.

Designers say they hope the new design will better connect shoppers to other businesses and restaurants around River Park Square.

The basement of the building will also be used for a new parking garage.

Centennial Properties expects the first two retail floors and new sky walks to be open by the end of next year. They say the upper floors will then open as they are ready.

Centennial Properties wants to get you involved in the new design. You can submit names for the new building here.

Four finalists will be chosen to receive a $100 River Park Square gift card.

The new name will be announced in November.